Solutions by Specialized Risk

Oil and gas industry  EnergyPro® Oil Lease Property

Travelers EnergyPro Oil Lease Property coverage is tailored to meet the needs of the oil and gas industry. From blanket or scheduled property, to crude petroleum in tanks, to unscheduled property and equipment at unscheduled locations, Travelers Oil & Gas offers coverage to help keep your business protected.

Oil lease property and equipment coverage

Blanket or scheduled property and equipment limits of coverage at covered locations

Property and equipment may be described on the policy or in a separate schedule on file with us

Valuation is based on either replacement cost or actual cash value (ACV) options selected at policy inception

Crude petroleum in tanks coverage

Scheduled crude petroleum in tanks less than 10,000 barrels capacity at scheduled locations

Crude petroleum may be scheduled on the policy or in a separate schedule on file with us

Crude petroleum loss valuation based on market price, or contract price if higher, on date of the loss, plus any gathering or transportation costs

Unscheduled oil lease property and equipment coverage

Coverage applies to unscheduled property and equipment at unscheduled locations

An each-item limit and each-loss-event limit apply

Valuation based on either replacement cost or ACV options selected at policy inception

Additional coverages:

Debris removal coverage

Up to 25% of the sum of paid loss and deductible

Removal and replacement of underground pumps coverage

Up to $10,000 for all cost or expense that results from any one loss event